CEBU, Philippines - The Ayala Land Inc. (ALI) is set to officially introduce the 70-hectare Nature’s Park located in Busay area, as the company is still firming up plans on what to do with the rest of the 200-hectare property, which was previously the Ayala Heights luxury residential project.
In an interview with ALI president Antonino T. Aquino said that the company is still waiting for the result of the geological study conducted by an international firm Ove Erup, what to do with the rest of the 200-hectare property.
Meantime, Aquino said ALI will officially launch its Nature’s Park soon, which as of now is already accepting guests.
The Park will soon offer a natural science laboratory, camping area, hiking trails.
It will be handled by different non-government organizations (NGOs) such as University of San Carlos Water Resource Center, People Collaborating for Environment and Economic Management (PCEEM) and Department of Environment and Natural Resources (DENR). The group has created the “Ayala Heights Nature Park Foundation.”
The Ayala Heights Nature Park Foundation, which was formed few years back, will manage the Nature’s Park.
Ayala Heights was developed in the latter part of 1990s when the country’s economic shape was crippled due to the lingering effect 1997 regional economic crash.
Immediately after 1997 crisis, one of the badly hit industries was the real estate sector, thus aside from the social issues that hampered the development of Ayala Heights, the crisis also made the situation worst as negative effects of the crisis still lingered until early 2000.
Meanwhile, the Ayala Group recently made its presence felt in Cebu with the launching of its residential brands, the Avida, Ayala Land Premier, Alveo and Amaya.
The company, in partnership with Cebu Property Ventures and Development Corporation (CPVDC) has officially launched the Avida Towers condominium at the Asia IT Park.
This will provide over a thousand middle-range condominium units for Cebu in the next few years.
In the next five years, Ayala Group will be investing at least P10 billion, approximately P2 billion a year to be spent in different residential and commercial projects in Cebu, Aquino said.
According to Aquino, the company is not only looking at vertical developments for the introduction of its four residential brands in Cebu. They are also on serious consideration to build house and lot subdivision project in the future.
At present, the company is focusing on developing high-rise condominium projects, or commercial BPO buildings, in partnership with its Cebu-based subsidiaries CPVDC and Cebu Holdings Inc. (CHI).
With this partnership, ALI is set to introduce at least five projects in both Asiatown IT Park and the Cebu Business Park (CBP).
The four brands of ALI, the Ayala Land Premier, Alveo, Avida and Amaya will have its presence in Cebu with the establishment of three residential condominiums at Asiatown IT Park, and CBP. (THE FREEMAN)